VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 53,300 LTC Properties, Inc. $LTC

Key Points

• Virginia Retirement Systems ET Al acquired 53,300 shares of LTC Properties, Inc. valued at approximately $1,845,000, representing a 0.12% ownership stake in the company as of the latest quarter.
• LTC Properties reported $0.68 EPS for the quarter, exceeding analysts' expectations, with a revenue of $30.18 million during the same period.
• The company announced a $0.19 dividend to be paid on December 31st, raising its dividend yield to an impressive 615.0%.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 53,300 shares of the real estate investment trust's stock, valued at approximately $1,845,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.12% of LTC Properties at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in shares of LTC Properties by 3.5% in the 1st quarter. Principal Financial Group Inc. now owns 255,309 shares of the real estate investment trust's stock valued at $9,051,000 after purchasing an additional 8,646 shares during the period. Jupiter Asset Management Ltd. bought a new stake in LTC Properties during the first quarter worth approximately $9,358,000. Cambridge Investment Research Advisors Inc. bought a new stake in LTC Properties during the first quarter worth approximately $200,000. Charles Schwab Investment Management Inc. boosted its position in shares of LTC Properties by 15.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 949,322 shares of the real estate investment trust's stock valued at $33,653,000 after acquiring an additional 126,598 shares during the period. Finally, Asset Management One Co. Ltd. boosted its position in shares of LTC Properties by 7.5% in the first quarter. Asset Management One Co. Ltd. now owns 124,312 shares of the real estate investment trust's stock valued at $4,407,000 after acquiring an additional 8,651 shares during the period. Institutional investors and hedge funds own 69.25% of the company's stock.

LTC Properties Stock Performance

Shares of NYSE:LTC opened at $35.36 on Thursday. LTC Properties, Inc. has a twelve month low of $31.70 and a twelve month high of $39.89. The firm has a market cap of $1.63 billion, a PE ratio of 19.43 and a beta of 0.68. The company has a debt-to-equity ratio of 0.67, a quick ratio of 9.06 and a current ratio of 9.06. The business has a fifty day moving average of $35.81 and a 200-day moving average of $35.37.

LTC Properties (NYSE:LTC - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.01. The firm had revenue of $30.18 million during the quarter, compared to analyst estimates of $49.97 million. LTC Properties had a return on equity of 7.95% and a net margin of 38.24%.The company's revenue was up 20.2% on a year-over-year basis. During the same period last year, the company earned $0.45 earnings per share. LTC Properties has set its FY 2025 guidance at 2.670-2.71 EPS. On average, equities research analysts predict that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The company also recently disclosed a dec 25 dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 23rd will be given a $0.19 dividend. This represents a yield of 615.0%. The ex-dividend date is Tuesday, December 23rd. LTC Properties's dividend payout ratio (DPR) is presently 125.27%.

Wall Street Analyst Weigh In

Several brokerages recently commented on LTC. Cantor Fitzgerald began coverage on LTC Properties in a research report on Wednesday, October 1st. They issued a "neutral" rating and a $38.00 target price for the company. Weiss Ratings reissued a "hold (c+)" rating on shares of LTC Properties in a report on Wednesday, October 8th. BMO Capital Markets upgraded LTC Properties from an "underperform" rating to a "market perform" rating and set a $39.00 target price for the company in a research note on Wednesday, September 24th. Wedbush upgraded LTC Properties to a "strong-buy" rating in a research note on Wednesday, July 2nd. Finally, Royal Bank Of Canada raised their target price on LTC Properties from $36.00 to $37.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $38.60.

LTC Properties Profile

LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. It operates through the Texas, Michigan, Florida, Wisconsin, Colorado, and Remaining States geographic segments. The company was founded by Andre C. Dimitriadis on May 12, 1992 and is headquartered in Westlake Village, CA.

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